Omeros (NASDAQ:OMER) Shares Down 6% – Here’s What Happened

Shares of Omeros Corporation (NASDAQ:OMER) fell 6% during mid-day trading on Monday . The stock traded as low as $15.32 and last traded at $15.4020. 2,164,521 shares traded hands during trading, a decline of 12% from the average session volume of 2,463,923 shares. The stock had previously closed at $16.38.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on OMER shares. D. Boral Capital reiterated a “buy” rating and issued a $36.00 target price on shares of Omeros in a research note on Wednesday, December 24th. HC Wainwright reaffirmed a “buy” rating on shares of Omeros in a research note on Wednesday, December 24th. Wall Street Zen upgraded shares of Omeros from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Needham & Company LLC restated a “hold” rating on shares of Omeros in a report on Wednesday, October 15th. Finally, WBB Securities reaffirmed a “strong-buy” rating and set a $45.00 price target on shares of Omeros in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.67.

Omeros Stock Performance

The stock has a market cap of $1.09 billion, a PE ratio of -7.62 and a beta of 2.38. The stock has a fifty day simple moving average of $10.12 and a two-hundred day simple moving average of $6.40.

Omeros (NASDAQ:OMER) last announced its earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.39. On average, equities analysts predict that Omeros Corporation will post -3.09 EPS for the current fiscal year.

Institutional Trading of Omeros

A number of hedge funds and other institutional investors have recently modified their holdings of OMER. Russell Investments Group Ltd. boosted its holdings in shares of Omeros by 113.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,695 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 5,677 shares during the period. Trexquant Investment LP bought a new position in shares of Omeros during the first quarter valued at approximately $88,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Omeros during the 2nd quarter worth approximately $32,000. Tower Research Capital LLC TRC lifted its holdings in shares of Omeros by 829.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 11,971 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in Omeros during the 2nd quarter valued at approximately $40,000. 48.79% of the stock is owned by hedge funds and other institutional investors.

About Omeros

Omeros Corporation is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of small-molecule and protein therapeutics. The company’s research programs target inflammation, complement-mediated diseases and disorders of the central nervous system. Omeros’s portfolio encompasses both internally discovered molecules and biologics, reflecting its commitment to advancing treatments for conditions with high unmet medical need.

Omeros’s first FDA-approved product, Omidria® (phenylephrine and ketorolac intraocular solution), is indicated to maintain pupil size by preventing intraoperative miosis and reducing postoperative pain in patients undergoing cataract surgery.